MIRC Electronics Completes ₹50 Crore Rights Issue, Allots 4.94 Crore Shares

MIRC Electronics Limited, known for its popular Onida brand, has completed the allotment of 4,94,89,845 fully paid-up equity shares under its ₹50 crore rights issue, according to a stock exchange filing dated August 1, 2025. The company, listed on both BSE and NSE, had earlier announced the fundraising plan through a Board approval on September 2, 2024.

The Rights Issue Committee met on Friday, finalised the basis of allotment in consultation with BSE Limited (designated stock exchange), and approved the issuance at a price of ₹10 per share (including a premium of ₹9 and a face value of Re. 1).

Allotment and Capital Structure Update

Following the allotment of nearly 4.95 crore shares, the total paid-up equity share capital of the company has risen:

• Before Rights Issue: ₹23,09,52,619 (23.09 crore shares of Re. 1 each)

• After Rights Issue: ₹28,04,42,464 (28.04 crore shares of Re. 1 each)

This marks a 20.5% increase in the equity base of the company.

The newly issued shares have been allotted to eligible applicants, as per the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and SEBI (LODR) Regulations, 2015.

Rights Issue Purpose and Compliance

As previously disclosed, MIRC Electronics had launched the rights issue to raise up to ₹50 crore for the following purposes:

• Strengthening working capital

• Supporting operational expenses

• Meeting general corporate requirements

The rights issue complies with:

• SEBI ICDR Regulations, 2018

• SEBI LODR Regulations, 2015

• Companies Act, 2013

The company confirmed that the allotment process was executed in strict adherence to applicable regulations.

Meeting Details and Disclosure Timeline

The meeting of the Rights Issue Committee began at 11:30 a.m. and concluded at 12:15 p.m. on August 1, 2025.

The company, via its Chairman & Managing Director Mr. Vijay Mansukhani, communicated the outcome to both BSE Limited (Scrip Code: 500279) and National Stock Exchange of India Limited (Symbol: MIRCELECTR).

The formal letter bears reference number 34/2025–2026 and has been uploaded on company letterhead with all necessary statutory identifiers, including:

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